Oct 182014
 

By Mohammed Waseem

In my last post about bill pay service offered by IndusInd Bank of India, I had mentioned that they have partnered with BillDesk to offer bill pay service through online banking system. They offer solutions for businesses to offer a comprehensive bill presentment, payment and management solutions. But that is only one of the solutions they offer.

They offer bill pay solutions to individuals as well. Anyone in India can register for the service and they can start using it. This is the link to begin the registration process. Their website is a simple one, but is secure and convenient to use. They support many billers in 23 major Indian cities. They define billers as those companies that issue ebills and accept payments online.

BillDeskApart from these, there are payees, which are defined by them as those companies that do not issue ebills, but accept payments through BillDesk. An example for the latter is insurance premium payment. The biller list and the payee list can be referred to, to find out which of the companies are supported and which of the companies issue bills online.

To use the service, one has to login and add the required billers to pay the bills to. Once billers and payees have been added, payment instructions have to be provided, after which the bill is processed and the payer receives a confirmation. To try the service and know better, how things work, readers are advised to access this demo.

The benefits that BillDesk promises to offer include convenience, flexibility, effective tracking and savings in terms of time and money. Interestingly, the service is available free of cost for individuals. They make money from bill presentment and bill management solutions offered to businesses.

May 242014
 

By Mohammed Waseem

Bill payment in Switzerland is still in its early stage. Online bill payment has a long way to go, having people to trust it. Swiss locals visit banks and post offices to get their bills paid. In this article, I will discuss different ways they use to pay bills.

Every bill in Switzerland comes with an orange slip (or red slip in some cases) that is meant to be presented while paying the bill. This is predominantly meant for face to face / over the counter bill pay. Swiss locals prefer to pay cash due to convenience and security concerns about technological innovations. There are however a few people who have switched to online bill pay and few others use ATMs to pay bills.

Orange Slip

Orange Slip

While paying a bill, the orange slip has to be presented at a bank’s or a post office’s counter. A part of the slip is returned to acknowledge the payment. This has to be preserved until the biller has confirmed that they have received the payment. This is because many people have complained that companies have been bringing up year old bills claiming that they have never been paid. Banks charge a fee for paying bills and post offices may pass the fee to the biller. Payment has to be in cash, bills cannot be paid by check in Switzerland.

Other than over the counter payments, Swiss bills can be paid online, by Snail Mail or through Multimat machines. Online payments maybe done through internet banking by visiting one of the banks’ websites and logging into the online banking site; online payments are free of charge. The reference number from the orange slip has to be entered for making the payment. Snail mail is the traditional method of sending receipts to banks which in turn pay the bills on behalf of the account holder from their account. Most banks also have Multimat machines that can be used to pay bills at the bank branches or at the ATMs. The slip has to be inserted into the machine after inserting the bank’s card. The slip is then displayed on the screen; payment has to be confirmed to complete the transaction.

Online payment can also be done using a mobile phone by scanning the reference number on the orange slip with a smartphone app provided by the bank. Alternatively, billers’ websites can also be visited for paying individual bills. Some banks also offer ‘direct debit’ option for few types of bills. Online bill pay is best is every part of the world, provided the same level of security exists. If banks succeed in making their customers trust online payment, this can improve bill payment in Switzerland dramatically.

Apr 102014
 

By Mohammed Waseem

Bill payment has become so easy today that with a few clicks in a few seconds, we can pay our bills while at home or on the go. Billeo, a leading online shopping and bill pay service provider works towards simplifying and speeding up online and mobile payments. They have association with leading banks and financial institutions, over 20000 billers, 1500 merchants and have over 1.5 million customers.

Their services include XpressBuy and XpressPay. XpressBuy is meant for online marketplaces, and it enables them to drive easy and instant purchases directly from their website or from the customer’s phone or tablet. It offers a fast, simple and secure checkout service across a variety of merchants. This works with a “Buy” button which the merchants add on their websites. XpressBuy supports many of the top 500 merchants, such as Nordstrom, Kohl’s, Sears, Target, and Buy.com. They are continuously working on adding more merchants to the list. The service also works with wallets used by the merchants, and Billeo offers its own wallet as well. They also offer customer solutions such as use of social media in creating business

Billeo Online ScreenXpressPay is meant for bill payment and delivers a simple, instant card-funded bill payment service across a variety of billers. It enables a bank to drive instant bill payment with a bank-issued debit or credit card right from the bank’s existing bill payment tool. XpressPay looks up the amount and date due of a bill and completes the bill pay process in just a few seconds, from any online or mobile device. A bank enables XpressPay by placing a “Pay Now” button next to a supported biller. The customers click this button and are redirected to the payment gateway, without leaving the bank’s website.

Billeo’s XpressPay and XpressBuy solutions are available to customers through merchants and financial institutions. They also offer a browser app which works with Internet Explorer and Firefox as a browser add-on to help manage online financial transactions in a faster and more organized way. Billeo’s Bill Pay Assistant allows users to pay bills from more than 11,000 sources, like water delivery, rent, taxes and medical bills. It also includes reminders for due bills.

Billeo’s services are good for financial institutions who intend to engage better with their customers, and for the merchants who want a simple checkout process.

Jul 082012
 
Online banking, woman with laptop

Online Bill Pay: Should You Use Your Bank or an Outside Vendor?

By Joyce Morse for SafeBillPay.net

Most banks today offer the option of online bill pay; however, there are several independent companies that also provide online bill pay services. They are becoming more popular but many people still do not know the difference between the two and the limitations of each.

Online Bill Pay through Your Bank

If you choose to use the online bill pay service through your bank, you can set up as many payees as you wish. They can be businesses or individuals, and payment can be sent electronically or by paper check. Many businesses are already recognized by banks such as credit card companies and you do not even need to provide a payment address.

You will need to provide some information to the bank to set up these accounts:

  • Your account number with the company
  • The payment amount
  • The payment date
  • Phone number and address if it is not on file

You will have to set up each account individually and instruct the bank which account to use if you have more than one. Many banks also offer mobile banking with an app where you can control your payments from your smart phone or other mobile device. However, you usually cannot add a payee with the mobile app or make other changes to your account other than setting up a payment to an existing account.

Banks will send you reminders through email or text messages when your payment is due or when it has been sent if you request it. You can also set up automatic payments so you don’t have to remember each month. It is also guaranteed by the bank to be paid on time if you follow the procedures that they provide.

Independent Bill Pay Vendors

You can also use an independent company to pay your bills online. This has become more popular in recent years, which means you will have more companies to choose from. They provide similar services to a bank’s online bill pay service, but there are some key differences.

With an independent company, you can set up payments through more than one bank account. This is helpful if you have accounts at more than one bank or if you manage another person’s account, like a parent, at a different facility. Instead of having multiple logins and passwords, there is only one to remember for all of your accounts.

You can usually pay individuals as well as businesses, but not always, so be sure to find out before you sign up. A major difference between banks and independent online bill pay services is the cost. Many banks offer the service for free since you have an account with them. Independent companies usually charge for the service, either a monthly fee or by transaction.

If you choose to use an independent company, make sure it is a reputable one that has been around for some time and has a good credit rating with the Better Business Bureau.

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